- The Greater Memphis Chamber released its 2022 Greater Memphis Market Supply Chain & Logistics Industry Report on April 19, the latest in a monthly series of industry reports.
- In Greater Memphis, the supply chain and logistics industry’s workforce has grown 25% over the past decade to reach more than 119,000 people at more than 3,600 companies in 2022.
- Greater Memphis has the highest concentration of Black supply chain and logistics talent of any major U.S. metro and the highest concentration of female talent of its peer metros.
- This and other industry reports are available for purchase at MemphisChamberReports.com.
MEMPHIS, Tenn. (Wednesday, 4/19/23) – Long known as the “Supply Chain Capital of the World” and “America’s Distribution Center,” Greater Memphis remains the leading U.S. metro for the supply chain and logistics industry, according to a new report from the Greater Memphis Chamber’s research arm.
In 2022, the industry accounted for more than 3,600 companies employing 119,000 people in the Memphis Metropolitan Statistical Area (MSA), a higher concentration than in any other U.S. metro, according to the newly released 2022 Greater Memphis Market Supply Chain & Logistics Industry Report from the Chamber’s Greater Memphis Economic Research Group, or GMERG (pronounced ‘G-merge’).
The Supply Chain & Logistics Industry Report, along with other GMERG industry reports, are available for purchase at MemphisChamberReports.com.
The number of jobs in the industry is also on the rise in the region, having grown 25% since 2012 (an addition of 24,000 jobs) and 16% since 2017 (compared to a national average of 11%).
“When you look at the value of goods and services produced in our region, the supply chain and logistics industry contributed $18.9 billion in 2022, which is up a staggering 51% compared to a decade ago,” said Ted Townsend, president & CEO of the Greater Memphis Chamber. “Memphis is the global logistics leader because of the four ‘Rs’: runway, river, road, and rail. We have the busiest cargo airport in the U.S. and second busiest in the world, the third busiest trucking corridor, five Class I railroads, and the fifth largest inland port in the U.S. We are always open, always moving, 24/7, 365 days a year.”
In addition to its double-digit growth over the past five years, the region is expected to add another 7,800 jobs in the next five years, according to the report.
The industry’s local workforce is also one of the most inclusive in the nation.
“One of the most positive trends for Memphis is that we are a national leader in welcoming diverse talent to our workforce,” said Tecora Murray, executive director of GMERG. “We take pride in the fact that the supply chain and logistics industry in Greater Memphis has the highest concentration of professionals who identify as Black among all major metropolitan areas in the U.S. Additionally, our city stands out among its peers with the largest concentration of female professionals in this industry, with females comprising 35% of the total workforce, surpassing the national average of 30.7%.”
The 2022 Greater Memphis Market Supply Chain & Logistics Industry Report was sponsored by Novo Nordisk.
About the Greater Memphis Chamber: One of Memphis’ oldest institutions, dating back to 1838, the Greater Memphis Chamber is a privately funded nonprofit that serves as the region’s lead economic development organization and the “Voice of Memphis Business” on local, state, and national issues. The Chamber’s mission is to relentlessly pursue prosperity for all — through economic and workforce development, pro-growth advocacy, and by providing support and resources to its investors, which include many of the region’s largest employers. For more information about the Chamber, visit memphischamber.com and memphismoves.com. Also, follow the Chamber on Twitter, Facebook, LinkedIn and Instagram, and sign up for its weekly newsletter, Memphis Fourword.